Manhattan Bridge Capital (NASDAQ:LOAN) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Manhattan Bridge Capital (NASDAQ:LOAN) posted its earnings results on Thursday. The credit services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01), FiscalAI reports. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.06 million. Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%.

Manhattan Bridge Capital Stock Down 1.9%

Shares of Manhattan Bridge Capital stock opened at $4.10 on Friday. The company has a market capitalization of $46.86 million, a price-to-earnings ratio of 9.32 and a beta of 0.14. The firm’s 50-day moving average price is $4.33 and its two-hundred day moving average price is $4.41. Manhattan Bridge Capital has a 12-month low of $4.10 and a 12-month high of $5.80.

Analyst Ratings Changes

Separately, Weiss Ratings raised Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Manhattan Bridge Capital has an average rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Manhattan Bridge Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after purchasing an additional 9,330 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Manhattan Bridge Capital by 28.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after purchasing an additional 81,220 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Manhattan Bridge Capital by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock valued at $845,000 after purchasing an additional 7,900 shares during the last quarter. Geode Capital Management LLC boosted its position in Manhattan Bridge Capital by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider’s stock valued at $521,000 after buying an additional 3,046 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new stake in Manhattan Bridge Capital in the fourth quarter valued at approximately $161,000. Institutional investors own 21.84% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.